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With unsold cars stacking up by the day, demand falling faster, and bailout silliness getting sillier, I have three easy to make predictions.
1) Hundreds of dealerships are headed for bankruptcy in 2009
2) The Fed Is Destined To Become World's Largest Auto Dealership
3) Cars are going to get cheaper, much cheaper. Auto prices will crash. Liquidation sales later this year after the 2010 models come out are going to be fabulous.
It makes no sense to buy a car now, no matter how good the deal looks. The deals will get progressively better as the year rolls on.
read full article here: http://www.silverbearcafe.com/private/01.09/unsoldcars.html
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